Banking
This type of account is connected to your debit card
Checking Account
This stock market index represents 500 of the largest companies listed on stock exchanges in the United States
S&P 500
The amount borrowed by someone for a loan
Principal
A record of how you've managed loans and payments over time
Credit Report
Money you borrow for college and need to repay
Student Loans
A monthly fee that some banks charge to keep your account open
Maintenance fee
This investment vehicle automatically adjusts your investments based on a planned retirement year
Target Date Fund
An initial payment made when buying something expensive, such as a car or house
Down Payment
This payment method can help you build credit and requires a cash deposit
Secured Credit Card
When paying for college, prioritize these TWO forms of gift aid that don’t need to be repaid
Scholarships and Grants
This federal insurance program protects the money you deposit in member banks up to $250,000 per depositor, per bank
FDIC
This strategy involves spreading investments across different assets to reduce risk
Diversification
The lowest amount you can pay on your monthly credit card bill to remain in good standing
Minimum Payment
This strategy for debt repayment starts with the highest interest-rate debts
Avalanche/High-Rate Method
The form submitted by students to determine their eligibility for financial aid
FAFSA
This alternative to a debit card doesn’t require a bank account, but often comes with higher fees and lacks consumer protections.
Prepaid Card
Name two people who might ask to see your credit report.
Landlords, credit card companies, utilities, insurance companies, employers, government agencies, telecommunications companies,
Name a way you can reduce the overall amount of interest you can pay on a loan.
Make a higher down payment, choose a shorter term, find a lower interest rate, make additional payments, pay more than the minimum payment.
Sticker price - gift aid =
Net Price
Name two factors that go into determining your credit score.
Payment history, amounts owed, length of credit history, new credit applications, types of open accounts